Available to commercial property owners in Napa County this fall, CaliforniaFIRST — a Property Assessed Clean Energy (PACE) finance program — will make it easier to implement energy efficiency and renewable energy projects by financing them over time on the property tax bill. These improvements can save money, make properties more valuable and appealing, and create local jobs. The voluntary PACE program allows property owners to finance the installation of energy and water improvements on commercial, industrial or multi-family (over five units) buildings and pay the amount back at a reasonable interest rate over a period of time.
The program is currently available only to commercial property owners, but Napa County government officials are exploring options to extend the program to homeowners.
The PACE program was created by California Assembly Bill 811, which was adopted in 2008; it authorizes cities and counties to establish voluntary contractual assessment programs to fund an array of resource (energy, water) conservation and renewable energy projects proposed by property owners. PACE is a critical tool to accelerate the adoption and deployment of clean and energy-efficient technologies, reduce energy use, boost the economy, and address greenhouse gas emission reductions.
The CaliforniaFIRST Program is a program of the California Statewide Communities Development Authority (CSCDA), a joint powers authority co-sponsored by the California State Association of Counties and the League of California Cities, and is administered by Renewable Funding.
Click here for more information on PACE and its benefits, And watch future SNC E-newsletters for the news about program launch and how to sign up in Napa County.